Opportunities abound in Sri Lanka President to Chinese investors
[Wednesday, February 28, 2007 - 11.30 GMT]  

The many development projects in Sri Lanka under the Mahinda Randora Programme afford many opportunities for foreign investors and entrepreneurs. The door is open for you to invest in enterprises for production of electrical and electronic goods, gems and jewelry, motor vehicles, motor cycles, textiles and garments, light engineering equipment, and to engage in the fields of highways, housing, agro and aquatic enterprises, communications and infrastructure development projects.

This was said by President Mahinda Rajapaksa addressing a well attended Trade, Investment and Tourism Seminar in Beijing today (February 28), as
part of the President's State Visit to China mark 50 years of diplomatic ties between the two countries.

The President added that, Sri Lanka is a developing country; it is not developing as a nation with closed doors. I should say that Sri Lanka is also a state like your own, reaping the best features of an open economy, having entered the path of development with a large number of investors who have come from many countries of the world.

I am happy to address you in Beijing on this occasion when China and Sri Lanka are completing 50 years of diplomatic relations. There is a lasting friendship between China and Sri Lanka, which I consider more as a bond of very close relationship.

Arriving in Sri Lanka, we in the Sri Lankan delegation didn't feel we were strangers here. That is because China is a country very close to us. In many of our major cities, suburbs and provincial townships we invariably find a Chinese restaurant with the symbol of the dragon which is a token of your culture.

When we travel along our roads we very often see Chinese nationals busy working at building and road construction sites displaying the name board of a Chinese company.

It is due to the experience of having dealings with the Chinese people over many years that some of our people identify certain enterprises in our country as more suited to be handled by Chinese.

I wish to tell you another interesting story. The coming month of April is the festival season of the Sinhalese and Tamil people of Sri Lanka. The firecrackers crackers in the hands of children during this season are called Cheena-patas . I think it is a saying that has come to stay among our people, remind that the Chinese people were inventors of gun powder. Anyone visiting Sri Lanka in August will observe that many Chinese kites are flying in our sky. It short, it would be almost impossible to come across a Sri Lankan who has not tasted a Chinese meal in a Chinese restaurant. That is why China and its people didn't appear to us as strangers to us.

Although in other countries there are cities set apart for foreign investors, Sri Lanka has not created such separate cities for the Chinese people. This is because the Chinese engage in business and industrial activities island-wide treating Sri Lanka as their own country.

Sri Lanka is a developing country; it is not developing as a nation with closed doors. I should say that Sri Lanka is also a state like your own, reaping the best features of an open economy, having entered the
path of development with a large number of investors who have come from many countries of the world.

As thousands of traders from all directions of the world came to Sri Lanka along the ancient Silk Route, many foreign investors come to Sri Lanka today. It is a pleasure to see that the Chinese investments in Sri Lanka have exceeded US$ 1 million today.

I state with responsibility that a more conducive environment for investors to come in large numbers to Sri Lanka has been created under the programme of the Mahinda Chintana 10 Year Development Vision. Last year we maintained an economic growth rate of 8%. In the midst of many challenges our export growth was over 8%. Similarly, our Stock Exchange continues to
show rapid growth. Over 500, 000 tourists came to Sri Lanka last year. Our beautiful island is rapidly changing into a centre of attraction for Chinese tourists. Besides that, we have succeeded in bringing the security
of the people and investors to an excellent standard, when compared to what it was several decades ago.

The latest sessions of the World Finance Ministers Conference was held in Colombo. The South Asian Games were also successfully completed in Colombo
to the approbation of Asian countries. The aid group meeting with representatives of over 50 countries, including China, was held in Galle, the capital of Southern Province. Further, a grand exhibition
demonstrating the future industrial and economic development of Sri Lanka under the 10 Year Development Plan was held this month in the Bandaranaike Memorial International Conference Hall, donated by your country; it is not wrong to say from this exhibition which was attended by over 21% of our
population, the world would have seen the future development of Sri Lanka with its peace and security.

Under the Mahinda Randora National Infrastructure Development Programme we are engaged in a giant effort of enhancing our development by building new
power plants, habours, airports, express highways, railways, new towns, and constructing irrigation networks. The coal-based power plant being constructed in Puttalam and the harbour earmarked to be constructed in Hambantota with aid from your government are two major projects under the
Mahinda Randora Programme. These projects will afford large investment opportunities for foreign investors and entrepreneurs. While the Jathika Saviya, Gama Neguma, and National Rural Development Programme will carry
out road, electricity, housing, water supply projects, the Nenasala Programme will take computer literacy and technology to the remote villages.

Sri Lanka has produced a strong labour force through the modern education system that we have expanded island-wide. The literacy rate of Sri Lanka remains at 90.7%. This year alone over 15, 000 students will enter
university. More than 12, 000 students will be admitted for technical education. Due to the academic education and vocational training provided by these institutions we are in possession of a skilled work force employable in any establishment in the world. There is a great demand for Sri Lankan labour in foreign countries because they are equipped with the knowledge and ability required for the modern world.

The door is open for you to invest in enterprises for production of electrical and electronic goods, gems and jewelry, motor vehicles, motor cycles, textiles and garments, light engineering equipment, and to engage
in the fields of highways, housing, agro and aquatic enterprises, communications and infrastructure development projects.

Sri Lankan business community has strong confidence in Chinese nationals for their rapid rise in development. The rise of China with its great commitment to progress is a pride to all Asians.

I am happy to state that the Silk Route that opened the doors to tradewith Sri Lanka in the past are open again inviting you in the same way today. If you come to our land along that route you will see a new
generation of Chinese entrepreneurs owning large textile factories. They are the successors of the older itinerant Chinese traders who went to our remote villages selling textiles. I respectfully invite you to come and join them.

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Last Updated Date: February 28, 2007 - 11.30 GMT